Tap revealed Tuesday that after reviewing its options the board believed it was in the best interest of shareholders to retain its current portfolio of assets in Thailand, Australia and Myanmar.
That included its 30% stake in the offshore Maora field which it originally flagged as a potential asset it could look to sell earlier this year.
Tap said it had received strong interest in its Manora stake but added the low oil price environment and an ongoing dispute with its major shareholder Chatchai Yenbamroong’s Northern Gulf companies had added to the complexity of completing a deal at an acceptable price.
“We are very pleased with the level of interest shown in Manora during the strategic review process, which confirms the high quality nature...
